By Miriam Gottfried Blackstone (BX) reported higher quarterly earnings as the value of investments rose across its major strategies. The private-equity giants infrastructure portfolio led the way, climbing 4.8% in the quarter thanks in large part to a big bet on data centers. Blackstones private-wealth business had its highest inflows since 2022, raking in $8 billion as resurgent public markets gave investors the renewed confidence and wherewithal to invest in private markets. Here are some key metrics from Blackstones first-quarter report: — Net income was $847.4 million, or $1.11 a share. That was nearly ten times the $85.8 million it earned in the first quarter of 2023. — Distributable earnings were $1.27 billion, or 98 cents a share. This item, representing cash that could be returned to shareholders, totaled $1.25 billion a year earlier. — Blackstone raised $34 billion. As in recent quarters, a large portion of thatsome 60%came from

Blackstone (NYSE:BX) reported quarterly earnings of $1.11 per share which beat the analyst consensus estimate of $0.97 by 14.43 percent. The company reported quarterly sales of $3.69 billion which beat the analyst consensus estimate of $2.49 billion by 48.13 percent. This is a 48.32 percent increase over sales of $2.49 billion the same period last year.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We believe BX’s outlook is positive, but valuation may be stretched a bit. We cut our target $5 to $130, a forward P/E of 26.5x our ’24 distributed cash earnings (DE) view, above the three-year historical average at 24.0x. Private markets (equity, real estate, credit, infrastructure) are active, but we see a more gradual upward curve on DE in ’24. We drop our ’24 DE to $4.90 ($5.25) and ’25’s to $6.20 ($6.35). Our revenue forecast is $13.0B in ’24 and $15.5B in ’25. For industry financial metrics, performance revenues were flat in Q1 24, total net realizations were +9%, and DE was +11% ($0.96, $0.01 below consensus). LTM Investment performance was best in Infrastructure (+18.9%), Private Credit (+17.2%), Corporate Private Equity (+12.7%), and Liquid Credit (+12.4%),

The following is a summary of the Blackstone Inc. (BX) Q1 2024 Earnings Call Transcript: Financial Performance: Blackstone reported a GAAP net income of $1.6 billion for Q1 2024. Distributable earnings for the quarter were $1.3 billion or $0.98 per common share. The company declared a quarterly dividend of $0.83 per share. Blackstone’s fee-related earnings were at $1.2 billion, marking its highest level in six quarters. Management fees for Q1 2024 reached a record level of $1.7 billion, marking the 57th consecutive quarter of year-over-year growth. A significant $25 billion was invested in the first quarter, bringing the total to $56 billion in the past two quarters. Business Progress: The company successfully invested $25 billion in Q1 and committed an additional $15 million to pending deals. Major investments were made in sectors like digital infrastructure, particularly data centers. Sales in the Private Wealth channel increased by over 80% from Q4